Circle raises $222M in Arc token presale at $3B FDV from a16z crypto, BlackRock and others; Q1 revenue up 20%

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The Block Editorial

(11:36 AM UTC)

1 min read

Circle Internet Group (CRCL) raised $222 million for Arc, its new institutional Layer 1 blockchain, giving the network a fully diluted valuation of $3 billion and making Circle the first publicly listed company to conduct a token presale.

a16z crypto led the round with a $75 million commitment, according to CNBC. BlackRock, Apollo Funds, Intercontinental Exchange, SBI Group, Janus Henderson…

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